Fluor (NYSE:FLR) Price Target Raised to $60.00

Fluor (NYSE:FLR) had its target price hoisted by KeyCorp from $59.00 to $60.00 in a research note issued to investors on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other research analysts also recently issued reports on FLR. UBS Group upped their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird reiterated a “neutral” rating and set a $58.00 target price (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. DA Davidson upped their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Truist Financial increased their price objective on Fluor from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.29.

Fluor Stock Performance

NYSE FLR opened at $48.27 on Wednesday. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 4.27 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm’s 50 day simple moving average is $52.83 and its 200 day simple moving average is $49.73.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. As a group, research analysts expect that Fluor will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This represents a 25.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC purchased a new position in shares of Fluor in the 2nd quarter worth approximately $47,559,000. Westfield Capital Management Co. LP bought a new position in Fluor in the 3rd quarter valued at $39,289,000. Rubric Capital Management LP increased its position in shares of Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Fluor by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after buying an additional 323,111 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.